You’ve shopped around and found the perfect car. Now what? There are key steps in the process but finding financing and getting pre-approved – or better yet, approved – is always top of mind. Get tips on buying a car from a private seller and consider a personal loan for your purchase.
If you’re a U.S. Bank customer and have a FICO® Score of 660 or above – or a FICO Score of 720 or higher if you aren’t a current U.S. Bank customer – a personal loan can give you quick access to funds for your car-buying needs. All loans are subject to credit approval and other qualifying factors.1
If you’re a U.S. Bank customer, you may borrow at least $1,000 up to $50,000. Not a U.S. Bank customer? You may be able to borrow up to $25,000.
When you take out a personal loan, you’ll pay no origination fees and there is no prepayment penalty. You’re always free to make loan payments ahead, in part or in full.
A personal loan doesn’t require your home or car as collateral, so you won’t have to deal with inspections or appraisals.
Just answer a few quick questions and we’ll give you a personalized estimate.
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Step 1: Check your rate.
Check your personalized rates. We’ll use some information about you to do a soft credit check, which will not affect your credit score.
Step 2: Apply.
When you're ready to apply, you'll need:
You can apply with another person. If you apply with a joint applicant, their income and credit background are also considered and may affect your interest rate or loan amount.
Once you submit your application, U.S. Bank will request a full credit report, which may affect your credit score.
How long does it take for a loan to process?
Typically we’ll notify you with your loan approval status in less than a minute.
Step 3: Close your loan.
If your loan is approved, you may close your loan online. Funds are available within one to four business days of loan closing.
Shop around and other tips to help put you behind the wheel.
Common considerations before grabbing the keys.
Know your score range before applying for loans and lines of credit.